A recent survey published by Chartered Accountants Ireland shows that newly qualified accounting jobs have increased by 3%. This is up 6% percent from the previous year. Newly qualified chartered accountants receive on average a base salary of €58,967, car allowance, plus a bonus.
Increase in Accountant’s Salaries
Most members stated that their total remuneration has increased by 86% in the past three years. 37% of respondents, or more, reported that their wage has increased by more than 25% this year in their accounting jobs.
A pension is available to 88% of members, up from 85% in 2021 and 2020, with companies paying an average of 9% of members’ salaries. The pension contribution is the component of their compensation that 51% of respondents value the greatest after their base pay.
Accounting Jobs Bonus Expectations
Despite the fact that fewer chartered accountants (60%) compared to (67%) stated they anticipated receiving a bonus this year, the study indicated that members’ outlooks were more upbeat than in recent years.
Approximately 83% of Chartered Accountants Ireland members stated they anticipated a rise in their overall compensation during the upcoming year, with nearly a fifth (18%) anticipating an increase of more than 10%.
Four in five accounting respondents (79%) think the market will continue to grow, which is a big improvement over 2021 (67%) and 2020 (25%) when the Covid-19 pandemic first appeared.
“This year’s survey shows a number of very positive market trends. It points to continued strong earning prospects for Chartered Accountants working across Leinster, including for newly qualified members,” said Ann Marie Costello, chairwoman of Chartered Accountants Ireland Leinster Society.
“While expectations around bonus payments have fallen back somewhat, overall remuneration packages are rising across the board, and the vast majority of those surveyed remain confident that salaries will increase again in the year ahead and that there is buoyancy in the market,” she said.
Flexible & Hybrid Working in Accounting & Finance Jobs
The study also captured a broader trend toward flexible and hybrid working arrangements for accounting jobs. The most common option was a hybrid arrangement, which 73% of members said their company supports, while 13% of members work from home full-time.
A healthy work/life balance is supported by their employer, according to almost 80% of respondents, in a non-monetary way by allowing them to work from home. 36% of Chartered Accountants Ireland members claim they are working more hours at home than when working in the office, down from 48% in 2021.
A healthy work/life balance is supported by employers, according to 4 out of 5 members, in a non-financial way by allowing employees to work from home.
Martina Quinn Managing Director Martina Quinn Finance Recruitment said “The findings from this survey indicates that employers have adapted well to new ways of working. We are seeing this in the market as many of clients are offering remote working and hybrid working models for accountants and finance professionals. Its also reassuring to see newly qualified accountants being offered great packages after years of study and working to become qualified. Once again, we are seeing these excellent packages being offered to our newly qualified candidates regularly”
Enhanced Accounting and Finance Skills
The survey also identifies some of the beneficial and long-lasting effects that the pandemic had on accounting jobs:
According to 3 out of 4 respondents, the pandemic has not fundamentally altered their employment as a chartered accountant in their organization, but rather improved methods of operation and skill sets.
3 out of 5 people think that switching to remote work has improved their ability to communicate with others in their organization and improved their performance in their accounting jobs. More than half (53%) claim that switching to remote working improved their IT and finance software skills and 50% claim that it boosted their presenting skills.
Huge Opportunities in the Accounting Jobs & The Finance Jobs Market
The survey conducted by Chartered Accountants Ireland reflects what we have been experiencing in the market. Newly qualified accountants are being offered some great packages which consist of excellent salaries and benefits. One of which is work from home and hybrid working options which would never be on offer to accountants.
Employment for accounting and finance professionals is projected to grow. The demand for accountants in Ireland is on the rise with the following sectors experiencing growth in 2022:
- Practice, audit, tax, advisory, corporate finance
- Pharmaceutical and healthcare
- Technology and fintech
- Financial Services/Insurance
- FMCG and transport
Martina Quinn Finance Recruitment specialises in the placement of qualified accountants up to executive level nationwide. Our teams have extensive experience (67 years combined) in recruiting in the Irish Market.
Our leading finance recruitment agency is based in Limerick, and we have excellent accounting and finance jobs in Limerick, Clare, and Tipperary. Check out some of our roles in our job portal.
Reach out to the team here in Martina Quinn Finance Recruitment for the best advice and support in building your finance teams contact us today.